Public debt of Cyprus and banking crisis

[RealDude]

Cyprus' public debt is about 120% of GDP, roughly on a par with Spain, Italy and Portugal. In contrast, the public debt of Romania, Switzerland and Dubai is below 50%. What do you think is the probability of another banking crisis in Cyprus?

 

[CyprusBusiness]

Hello

Here is some projections from Ministry of finance shown below. The macroeconomic indicators although display a strenuous position in 2020, substantially due to COVID as big government grants were offered (and still are) to individuals and businesses affected by covid, the Credit rating agencies have maintained a positive outlook for Cyprus with an investment grade rating.

With regards to banking sector substantial amount of NPLs (non performing loans) have been sold by the banks to credit acquiring agencies and their balance sheets have been significantly decompressed and now (Q3 2021) displaying healthy ratios including strong capital and liquidity ratios.

So I would not say that banking sector is currently facing an imminent threat, but on the contrary they enjoy surplus liquidity that want to inject into the market.

 

[Jonathan169]

Your forgetting if Turkey goes into an internal meltdown it might invade just to deflect...the old Weimar Rep. pinzer move.

 

[RealDude]

Are there any new findings?

Cyprus has never opposed SWIFT ban on Russia -finance minister

Cyprus has not opposed proposals to cut Russia off from the SWIFT global payment system, Cypriot Finance Minister Constantinos Petrides said on Saturday.

www.reuters.com

https://cyprus-mail.com/2022/02/25/impact-of-ukraine-crisis-on-cyprus-economy-in-focus/

 

[RealDude]

French aircraft carrier Charles De Gaulle arrives in Limassol port​

https://cyprus-mail.com/2022/02/26/french-aircraft-carrier-charles-de-gaulle-arrives-in-limassol-port-photos/

 

[RealDude]

Cyprus agrees to close EU airspace to Russian planes​

https://cyprus-mail.com/2022/02/28/cyprus-agrees-to-close-eu-airspace-to-russian-planes/

 

[RealDude]

Island life…

Russia imposes sweeping flight bans on airlines from 36 countries​

Russian flights bans hit airlines from 36 countries - aviation authority

Russia has closed its airspace to airlines from 36 countries, including all 27 members of the European Union, in response Ukraine-related sanctions targeting its aviation sector.

www.reuters.com

 

[Golden Fleece]

Against 36 countries! That says it all. Putin has kicked over a hornet's nest. Now he will get stung badly.

 

[RealDude]

Russian ambassador: Cyprus has shot itself in the foot with flight ban​

https://cyprus-mail.com/2022/02/28/all-cyprus-flights-to-and-from-russia-cancelled-in-tit-for-tat-ban/

 

[RealDude]

Russian citizens in Cyprus being threatened, embassy says​

ˋthey have been receiving threats, insults and demands to “get out of Cyprus”´

„Meanwhile a special repatriation flight carrying Russian and Belarusian citizens to Russia will depart from Larnaca airport at 2.45pm on Friday“

„Due to difficulties with bank card payments, the embassy advises passengers to carry cash for any payments they are required to make.“

https://cyprus-mail.com/2022/03/03/russian-citizens-in-cyprus-being-threatened-embassy-says/

 

[RealDude]

Tales from the Coffeeshop: Mother Russia loses her shine in Kyproulla​

https://cyprus-mail.com/2022/03/06/tales-from-the-coffeeshop-mother-russia-loses-her-shine-in-kyproulla/